JACKSONVILLE, FLA. — Jackson-Shaw has started construction on Jacksonville International Tradeport 3 and 4, two industrial assets located in Jacksonville’s Northside submarket adjacent to Jacksonville International Airport. The properties will total 178,000 square feet and are set for completion in the third quarter. Building 3 will total 124,000 square feet and feature 32-foot clear heights, 37 dock-high doors, 130-foot truck courts, one drive-in ramp, 109 parking spaces and 34 optional trailer storage spaces. Building 4 will total 54,000 square feet and feature 28-foot clear heights, 16 dock-high doors, a 130-foot truck court, 31 parking spaces and 12 optional trailer drops. Jackson-Shaw has selected Tyler Newman of Cushman & Wakefield to lease the facilities. Thackeray Partners is Jackson-Shaw’s investment partner for the project, and BB&T provided construction financing.
SALEM, IND. — Rafinia Property Group has acquired Riverside Shops of Salem in southern Indiana for $3 million. The shopping center is located at 403-405 S. Main St. in Salem. Built in 2008, the center is currently 96 percent occupied and is anchored by Dollar Tree and Goody’s. Indiana-based Equity Investment Group was the seller. Steve Anevski of Marcus & Millichap represented both the buyer and seller in the transaction.
PORT ORANGE, FLA. — Lancaster Pollard has arranged the $30.5 million sale of CountrySide Lakes, a 146-unit independent living and assisted living community in Port Orange, approximately 55 miles northeast of Orlando. Shepherd Health, a Miami-based seniors housing developer and operator, purchased the property from a private ownership group. Natasha Ursuy of Fifth Third Bank originated a $24 million acquisition loan for the buyer through the bank. Built in 1984, CountrySide Lakes offers 26 independent living units and 120 assisted living units. The community currently has a waiting list and has averaged 97 percent occupancy since 2013. Chad Elliott and Gerald Swiacki of Lancaster Pollard represented the seller in the deal.
SIOUX CITY, IOWA — NAI United LLC has arranged the sale of the Z Building in the Lakeport Commons power center in Sioux City. The sales price was not disclosed. The 40,000-square-foot structure is one of the buildings that makes up Lakeport Commons. Tenants at the shopping center include GAP Outlet, Buffalo Wild Wings, Maurices, Portrait Innovations, David’s Bridal, Regis, Peachwave, Game Lair and A La Mode. Dick Salem of NAI United brokered the transaction on behalf of the seller, Z Building LLC. Sam’s Property LLC purchased the center and hired NAI United Management to manage the Z Building.
INDIANAPOLIS — Pillar has originated a $4.5 million Freddie Mac loan for the refinancing of 9000 Westfield Apartments in Indianapolis. Originally built in 1972, the multifamily property is located just inside the I-465 beltway circling Indianapolis. The property consists of 98 garden-style units and was 95 percent occupied at the time the deal closed. The fixed-rate, 10-year loan includes a 30-year amortization schedule. Joe Markech of Pillar originated the loan. The borrower was a family-owned commercial real estate investment group. Mike Dury of PR Mortgage arranged the transaction.
ROWLETT, TEXAS — Bayside Land Partners, a partnership between Kent Donahue and Wilks Development, is developing Bayside, a $1 billion master-planned project encompassing 262 acres and featuring a variety of retail, restaurants, residential units and a resort hotel in the Lake Ray Hubbard area of Rowlett. Designed as a pedestrian-friendly, open-air resort, Bayside will feature more than 1.5 million square feet of commercial space, 3,000 residential units, a 1,000-slip marina and 700 hotel rooms. Lifescapes International will provide landscape design services for the project, including the development of the first-ever Crystal Lagoon in Texas. A Crystal Lagoon is a new technology that creates man-made lagoons with crystal-clear, turquoise waters in order to create a beachfront property. Additionally, Lifescapes will design a 116-acre peninsula, including 25 acres of parks, a variety of retail rooftop gardens and beach zones and the perimeter of the eight-acre Crystal Lagoon. Construction on the lagoon is slated to start this March and the project is scheduled to open by spring 2019.
HUTCHINS, TEXAS — Core5 Industrial Partners has acquired two adjacent land sites totaling 41.5 acres at 1200 W. Wintergreen Road in Hutchins. The buyer plans to construct a speculative 754,897-square-foot distribution and warehouse facility on the site. The location provides convenient access to interstates 45, 20, 30 and 35E. John Leinbaugh and Matt Elliott of NAI Robert Lynn, along with Brent Wicker and Randy Church of Wicker & Associates, represented the buyer in the deal. The name of the seller and acquisition price were not released.
DALLAS AND HOUSTON — Berkeley Partners has refinanced its five-property industrial portfolio in the metro Dallas area and Houston totaling 440,473 square feet. Jeff Sause, Kevin Mackenzie and Adam Herrin of HFF placed the $14.1 million, five-year, fixed-rate loan with LegacyTexas Bank on behalf of Berkeley Partners. The portfolio comprises 13 buildings at five properties in Beltwood Tech Center in Farmers Branch; Center Point Business Park in Mesquite; Glenville Business Center in Richardson; and Valpointe Business Park in Carrolton; and Cypress II Building Center in Houston. The multi-tenant properties are leased to companies such as Turn Around Communications, Security Control System, Arsham Gymnastics, Texas Metals Industrials, Murray Drywall and InterFET Corp.
IRVING, TEXAS — Dougherty Mortgage has closed a $3.8 million Fannie Mae loan for the refinancing for Woodwind Apartment Homes, a 64-unit multifamily property located in the Dallas suburb Irving. The 10-year loan features a 30-year amortization schedule. The loan was arranged through a partnership with Old Capital Lending and Dougherty’s Vienna, Va., office for the borrower, DCP 3947 Pleasant Run Road LLC.
HOUSTON — Colliers International has arranged the sale of an office and warehouse building located within Park 10 at 16337 Park Row in Houston. Plano Vistas Ltd. sold the 41,170-square-foot property to 16337 Park Row LLC for an undisclosed price. Marshall Clinkscales of Colliers International represented the seller, while Marc Drumwright of Southwest Realty Advisors represented the buyer in the deal. Tom Hamilton of Alamo Title Co. handled the closing.